Xunlei Ltd (NASDAQ:XNET) HEFFX Highlights

Xunlei Ltd (NASDAQ:XNET) HEFFX Highlights

Xunlei Ltd (NASDAQ:XNET) HEFFX Highlights

  • Shares of the China-based cloud-computing company Xunlei (NASDAQ:XNET) jumped as much as 12.6% on Friday — but the stock is up about 5% at the time of this writing. Bullishness toward the stock follows Bloomberg’s look at Xunlei’s cryptocurrency project.
  • As Bloomberg states, Xunlei’s cryptocurrency ambitions seem to be getting attention amid bitcoin hype. Calling Xunlei the “hottest stock on the Nasdaq,” the report may have shed some fresh light on Xunlei’s “Wanke coin mining” project.
  • Xunlei admitted in its recent earnings release that it’s just “exploring” emerging blockchain technology. Its business is primarily based on internet service-provider and cloud-computing services.
  • To its credit, Xunlei’s revenue is increasing rapidly, up 15.6% year over year in its most recent quarter.
  • Xunlei stock is up more than 300% in the past month.

Xunlei Limited (Xunlei) is a cloud-based acceleration technology company. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company’s segment is the operation of its online media platform. The Company’s products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability. The Company’s Xunlei Accelerator allows users to accelerate digital transmission over the Internet. Xunlei Accelerator also bridges users with diverse needs to other services it offers, such as Xunlei Media Player, which supports both online and offline video watching, and its various online games, including Web games and massively multiplayer online games (MMOGs), by recommending and providing links to these services on its user interface.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 10.89.

The projected upper bound is: 28.80.

The projected lower bound is: 21.83.

The projected closing price is: 25.31.

XUNLEI LTD ADR closed up 0.930 at 24.910. Volume was 428% above average (trending) and Bollinger Bands were 540% wider than normal.

Open          High            Low             Close           Volume
25.030       27.000        23.650        24.910        15,688,210

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period          50-period      200-period
Close:                       17.00                 8.33                 4.86
Volatility:                233                     192                  109
Volume:                  15,309,817        5,137,718        1,385,268

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
XUNLEI LTD ADR is currently 412.8% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into XNET.O (bullish). Our trend forecasting oscillators are currently bullish on XNET.O and have had this outlook for the last 27 periods. Our momentum oscillator is currently indicating that XNET.O is currently in an overbought condition.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 86.3873. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 14 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 85.36. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 167.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 9 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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